At the opening ceremony of the recently concluded Global Cross-Border E-commerce Trade Expo, Russia's leading e-commerce platform Yandex Market announced for the first time its plans to establish its inaugural merchant service center in China in Hangzhou. Wang Yulong, CEO of Yandex Market China, personally attended the event and formally signed an agreement with the Commerce Bureau of Yuhang District, Hangzhou. This move signifies a significant step forward in bringing East China sellers closer to the Russian market.
Following the signing ceremony, Yao Gaoyuan, Deputy Secretary of the Hangzhou Municipal Party Committee and Mayor, along with Fang Yi, Member of the Standing Committee of the Hangzhou Municipal Party Committee and Vice Mayor, accompanied by leaders from the Zhejiang Provincial Department of Commerce and the Hangzhou Municipal Bureau of Commerce, visited the Yandex Market booth to offer guidance. They expressed their hope that Yandex Market would contribute to Hangzhou's cross-border e-commerce sector and assist more sellers in tapping into emerging markets.
Hangzhou Daily Group, Hangzhou News Network, Daily Business News, and other mainstream media outlets gathered at the Yandex Market booth for interviews. In recent years, China-Russia trade has continued to heat up, with Russian e-commerce growth far exceeding the global average. As the e-commerce platform under Russia's largest internet group, Yandex Market leverages the group's over 100 million monthly active users. In Q1 2025, it achieved an astonishing 630% year-on-year growth in cross-border GMV, boasting 20 million active buyers with an average purchase frequency of 37 times per year. Its average order value ranks No. 1 among Russian e-commerce platforms.
When asked why Yandex Market chose Hangzhou as the location for its first merchant service center in China, Wang Yulong, CEO of Yandex Market China, stated that the platform plans to recruit 50,000 new sellers in the Chinese market by 2025. Hangzhou hosts China's first cross-border e-commerce pilot zone, which has cultivated a large number of mature sellers targeting markets in Europe, America, Southeast Asia, and Latin America. Additionally, Hangzhou is China's e-commerce capital, home to numerous domestic e-commerce brand sellers. These sellers align exceptionally well with Yandex Market. Many similar sellers have already achieved outstanding results on the platform. Serving these sellers well and helping them rapidly launch their Russian e-commerce ventures is the primary motivation behind establishing our Merchant Service Center.
Wang Yulong, CEO of Yandex Market China, stated that the company is placing particular emphasis on the Hangzhou market this year. On August 8, 2025, Yandex Market will host its inaugural official seller summit for East China at the Shangri-La Hotel in downtown Hangzhou. The summit is presented by Baikal Logistics Group as the title sponsor. The event will feature distinguished guests from Yandex's Russian headquarters and other prominent speakers. This initiative aims to establish the Yandex Market East China Merchant Service Center as a new landmark for cross-border e-commerce in the region, driving fresh growth opportunities for sellers across East China.
